Means for cutting bond coupons and the like



Nov. 3, 1931. c. T. BACH MEANS FOR CUTTING BOND COUPONS AND THE LIKE Filed Nov. 22, 1930 other. This devi-ce -is" placed uponthe pa r The device 3 is then lifted from the bond-an d Patented Nov. 3, 1931 Miran .s rA'rEs- QFF I CE T. l-BACH; 10F FPiI-IILADELPHIA, :ZPENNSYLV A NIA nuns r03. cur'rme non-n commons Am) .1 1:

Application-filed November 22, 1930. Serial No. 497,618.

with the taskof regularly-cutting or severing interest coupons from great numbers of bonds. 1 The task is I usually accomplished by means of'a simple-device having a pair of sharp edges disposed at right angles" to-each ticular bench with its'fsharp-edges lying along the' edges of the coupons to be severed, and l the coupon is-thentorn 0r severed from" the bondagainst' the sharp edges of the "device.

the operation is repeated for each successive bond" from'which'the coupons arecut. "This isentirelya manual operation, and'if a great number of bond coupons are to be cut, it is 'necessarily a tedious and time consuming task.

fiT'he invention has for its-main "purpose theprovision of adevice whi'cliel-i-mhiates entirely the necessity of "constantly lifting lithe CLIttlHgdBVlCQ 1n movlng the device from which would otherwise be consumed] by the above-dlscussed method or similar-operatlon.

As a refinement; I also proposeto incorporate 1n the 'device acountlng'mechanism-which is automaticallyactuated by the device du-r ing the operation. of the :same.

The structural: details of a device. constructedan accordancewlth the invention, as well SLS IiZS manner of operation, w1llbeclearly understood hereinafter.

-- In the drawings, Fig. 1 is an elevation'al' View of a cutting device assembly provided with one form of-=supportthedevice being shown. partly in sectionfor clarity: of illus tration Fig. .2 is aisectional view of the cutting .de-

vice assembly of Fig. 1 with the.cutting edges lowered inoperative positionto cut the de-fl sired bond coupon;

Fig. is an elevatiqnal view ,of a device siniilar to that of Fig.1 having a modified form of support;

Fig. 4 is a view similartoFig. 2 of the cutting device of Fig. 8; and g V "Fig. 5 is a-perspecti-ve view of a part of theabove devicesha'ving a counting mecha nism operativelyassociated therewith.

YReferring 't0' Figs. 1 and' 2 of. the "drawings',there is shown ahond-cutting device assembly designated generally by reference character'1, 'which is supported upon a struc ture designated-generally by reference character 2. "Thecutting device assembly com prises a hollow cylinder-'3' having a plunger. or piston i adapted "for reciprocal .motion therein. At the loweryend ofthe cylinder andintegral therewith, isprovidedfa guide block 5. having a square opening .6 extending therethrough. This opening serves as "a guide-forthe stem of'piston 4. "The lower portion ofthe stem is. squarein shape to conform with-the-opening6. The purpose of this construction is to prevent rotation ofthe piston-and the device supported thereby to be described later. 5 It will be apparent, of course, thatthe guide opening and piston stem may take the form other thancircular I of; a universal joint 10. The universal joint is provided; --with' ac' shoulder ll which is adapted to engage the lower surface of guide block 5,'which actsas a stop: for the piston and cutting device in its upward motion. The head of piston 4 is suspended within cylinder 3 at the lower end 0f a coil spring 12. The upper end of this spring may heat-- tached within the cylinder inv any suitable manner; In the pr esent instance, the" upper end-oi? the spring is attached to asupporting member 13 extending within the cylinder. The cutting device assemblymay, of course,

be. suspended from the supporting structure 2 in any suitable manner. Inthe present instance, a U-shaped bracket 14 is provided at one end of the lazy tongs 15, One arm of the bracket 14 may be attached to the 5 tongs, while the other end carries member 13 by means of a universal joint 16. The lower end of member 13 may be flanged or enlarged, and a suitable threaded bushing 17 may be adapted to be screwed into the end of cylinder 3 to thereby attach the cylinder to member 13, as clearly shown inFlg. 1. It.

will be apparent thatthe universal joints 10 and 16 provide any desired movement of the cutting device 7 and its supporting cylinder relative to support 2.

' In thepresent instance, the lazytongs 15 are supported on a suitable standard 18 which is removably attached to a base 19. One end of the lazy tongs may be attached'to 29; one end'of a horizontal bracket 20, which has its-other end formed to provide a clamp 21 adapted to encircle and engage standard 18. By providing clamp 21 in the form of an 'adjustable device having a suitable set screw 22, bracket 20 and the apparatus carried thereby maybe attached to standard 18 at any desired height and may also be rotated about standard 18if desired. A collar 23 having an adjustable set screw 2& may be, provided upon standard 18 to act as an adjustable stop for limiting: the downward movement of bracket 20. Standard 18 may be removably supported by base 19 by having its lower end extend into a recess in the 3-base and providing a set screw 25 therefor.

. The above described device may be placed at any desired position upon the desk or table at which the user is positioned. By virtue of the lazy tongs, the cutting device 49: assembly may be extended as desired, and by virtue of the various joints and adjustablefeatures, the cutting device may be moved many deslred directlon to carry out its purpose. In usmg the devlce, a number of 4 5 bonds, placed one upon the other, would be positionedon the desk or table below the cutting device. In severing the coupon from each successive. bond, it is merely necessary to lower the cutting device 7 against the ac- 5 -tion of spring12 (see Fig. 2) until it rests in the desired position upon the bond. The coupon may then be severed or torn against the sharp. edges of blades 8 and 9, after which the device is releasedand automatically rises 5 5; due to the. action of spring 12. 1 The bond may then be removed and the operation repeated successively for each of the remaining bonds. I i j I In Figs. 3 and 4t, Ihave shown a cutting device assembly 1 which issimilar to that shown 11! l and 2, but in which spring 12 is arranged for compression. A modified form of supporting structure, designated generally by reference character 26, isalso used. The

tem of plunger iextendstlirough spring 12,

end of bracket 29 is attached'to the upper end of standard 30 by means of a friction swivel joint '31. By means of this construction,

; bracket 29, and the device supported thereby, may be rotated with respect to standard 30. The lower end of standard 30 is adapted tobe removably attached to base 19 in the same manner as described above with respect to the device of Figs. 1 and 2. 1

The operation of this modified form of device is. of course, the same as has been already described.- The modified supporting 'structure affords similar flexible maninulationof the cutting device assembly'by virtue of the slidabilityof'rod 29, swivel joint 31 and the universal joints.

If desired, anautomatic counting mecha-..

nism may be associated with either of the devices previously'described. In Fig. 5, I

have shown such a counting mechanism 32,.

which maybe removably supported upon cylinder 3 by means of suitable U-shaned brackets 33. Cylinder 3 and block 5, may be provided with integral or separate perforated ears 34 through'whi'ch a rod 35 is ad apt j ed to pass. The upper end of this :rod may be attached to the shaft of the counter by means of a-suitable lever 36. A ring or collar 37 may be provided upon the lower end of the piston stem just above universal joint 10. In. the present instance, I have shown this collar as ,mounted upon the universal joint by means off-a nut 38 which may threadedly engage the piston stem. Obviously. the

lower end of the stem may be formed to threadedly engage the universal joint structure. In such case, nut 38 may threadedly engage the stem to firmly hold collar 37 in place above the joint. Thelower end of rod 35 may rest upon collar 37, but need not be attached thereto.

In associating the counting mechanism with the device in the manner described. such device is adapted for actuation through the medium of rod 35 upon upward movement of the cutting device. After the particular bond coupon has been severed in. the manner pre l viously described, and: the device has been released, thereby allowing it to riseasuch upward motion of collar 37 causes rod 35 to slide upward and rotatethe shaft of the counter through the mediumof lever 36. In

this manner, it will be obvious that each successive upward movement. of the cutting-dc vice after each bond'coupon'has been,sev-- cred, will cause the counting device to tally the number of coupons that have been cut. This mechanism may, of course,be permanently attached to the device, or may be removably associated therewith, as disclosed in the present instance. The counter enhances greatly the functioning of the device and in no way interferes with the operation thereof.

While I have disclosed herein several embodiments of my invention, it will be understood that the disclosure is for the purpose of illustration, only and that the various structural details may be changed or modified without departing from the spirit of the invention. It is, therefore, to be understood that the invention is to be limited only as indicated by the scope of the appended claims.

I claim:

1. A device for cutting bond coupons or the like comprising supporting means, a cutting device carried by said supporting means and arranged for reciprocating movement relative to said means, whereby said cutting device may be moved into cooperative relation with a bond, means for preventing turning of said cutting device, and means urging said cutting device into a predetermined position.

2. A device for cutting bond coupons or the like comprising supporting means, a cutting device suspended from said supporting means and arranged for reciprocating movement relative thereto, whereby said cutting device may be moved into cooperative relation with a bond, means for preventing turning of said cutting device, and means urging said cutting device into its normal suspended position.

3. A device for cutting bond coupons or the like comprising universal supporting means, a cutting device suspended from said, supporting means and arranged for reciproeating movement relative thereto, whereby said cutting device may be moved into cooperative relation with a bond, means for preventing turning of said cutting device, and spring means urging said cutting device into its normal suspended position.

4. A device for cutting bond coupons or the like comprising universal supporting 7 means, a cylinder carried by said supporting means, a piston within said cylinder having its stem extending outside said cylinder.

its stem slidably extending through said opening, the portion of said stem s'lidable within said opening being shaped in cross 

